Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Hizmet movement sticks to principles, AK Party transformed by the state

Holding ia press conference in light of the recent row between the government and the Hizmet movement on Wednesday, Journalists and Writers Foundation (GYV) President Mustafa Yeşil asdi the Hizmet movement has not changed its principles in the last half century but the Justice and Development Party (AK Party) has been transformed by the state and lost its reformist nature.

Domestic Violence and Smoking According to Gulen

Gülen’s says, “Women beaten by their husbands should seek a divorce if they have no children. Beating is an unjustifiable physical attack and is a crime. Defending yourself against this attack is legitimate” and “Nonsmokers who share the same atmosphere with smokers should open lawsuits against smokers, seeking compensation for the damages they suffer. If the smoker is a father, his nonsmoking wife or children should be able to launch such a lawsuit”

Gülen’s lawyer warns about possible doctored tapes

Lawyer Nurullah Albayrak in a written statement referred to lies and defamation about Gülen in the media which have become widespread and said Gülen’s phone calls have been illegally wiretapped. “These calls are reported in the media without taking any ethical principles into consideration,” he said, adding that it is very likely there will be edited phone calls as part of a black propaganda campaign against Gülen.

Turkish high-schooler commits suicide after father was dismissed under emergency rules

B.N.M., a freshman high school student killed herself allegedly after being bullied by classmates and lecturers over her teacher father’s dismissal from the profession due to his ties to the Gülen movement, on Oct. 24.

Turkey’s counter-terrorism campaign [against Hizmet] discredited

The agenda of the Turkish authorities [against Hizmet] goes far beyond the attempted coup, it is about the need to neutralise a movement that became a political threat when its followers within the judiciary and police started exposing corruption within the government’s ruling inner circle in December 2013.

We could not have imagined so many insults

They hope to cover up the corruption investigation and the reassignment of thousands of police officers and dozens of prosecutors and judges that had been planned much earlier. When the prime minister opted to use the language of insult, his copycat ministers and deputies who want to be popular with the prime minister began to use even more violent language.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

German view of Hizmet Movement (2)

Targeted by Erdoğan, Turkish schools earn praise, offer success abroad

Nigeria’s House of Representatives wants Turkey to know that Nigerian lives matter

Filipino student wins Turkish international schools contest

Turkish Cultural Center Holds Annual Friendship Dinner

The cleric next door: Pocono neighbors weigh in on Fethullah Gülen, the man Turkey wants back

They busted the house of a deceased teacher to take her under custody

Copyright 2026 Hizmet News